Account Title and journal entry

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Paid $290 for the maintenance of a truck during the month

Apr 26th, 2015

Debit maintenance expense 290

Credit cash 290

This is an operating outflow and is NOT capitalized; this is because it does not substantially extend the life of the truck. 

Apr 26th, 2015

Kelsey I have preset accounts and one account states Maintenance and Repair Expense is that the same?

Apr 26th, 2015

Yes

Apr 26th, 2015

Thank You again Kelsey I almost have this done

Apr 26th, 2015

Kelsey here's a question:paid 1,000 on a truck owed and 500 on account owed on cleaning supplies , now how would this be titled in accounts and posted in T accounts

Oct 27th, 2015

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Apr 26th, 2015
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Apr 26th, 2015
Oct 19th, 2017
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